Common use of Commercial Documents Clause in Contracts

Commercial Documents. (a) The Borrower shall: (i) perform and comply with: (A) its obligations under or in connection with the Development Agreement and the Head Lease, other than obligations of a minor or technical nature, the non-fulfilment of which would not be materially adverse to the interests of the Lenders; (B) the Consent; and (C) in all material respects with its material obligations under or in connection with the other Commercial Documents; (ii) notify the Agent (promptly upon becoming aware of the same) of: (A) any breach by any party of its obligations or any default under the Development Agreement, the Head Lease or the Consent; and (B) any material breach by any party of its obligations or any default under the Commercial Documents; (iii) take all reasonable steps to enforce (except to the extent permitted by paragraph (b) below): (A) any claim or right it has under or in connection with the Development Agreement, the Head Lease or the Consent; and (B) any material claim or right it has under or in connection with any other Commercial Document; (iv) notify the Agent promptly of any material claim made under a Commercial Document; and (v) provide the Agent with reasonable details of any claim under sub-paragraph (iv) above and its progress and notify the Agent as soon as practicable upon that claim being resolved. (b) The Borrower shall not amend, terminate, give any waiver or consent under, or agree or decide not to enforce, in whole or in part, any term or condition of: (i) the Development Agreement, the Head Lease or the Consent, save for amendments, waivers, consents or non-enforcements which: (A) are not materially adverse to the interests of the Lenders; (B) are minor or technical; or (C) have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (which approval shall not be unreasonably withheld)); or (ii) any other Commercial Document, save for non-material amendments, waivers, consents or non-enforcements or amendments, waivers, consents or non-enforcements which are not materially adverse to the interests of the Lenders, are minor or technical or have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (such consent not to be unreasonably withheld)).

Commercial Documents. (a) The Borrower shall: (i) perform and comply with: (A) its obligations under or in connection with the Development Agreement (Expansion Property) and the Head LeaseLeases, other than obligations of a minor or technical nature, the non-fulfilment of which would not be materially adverse to the interests of the Lenders; (B) the ConsentConsents; and (C) in all material respects with its material obligations under or in connection with the other Commercial Documents; (ii) notify the Agent (promptly upon becoming aware of the same) of: (A) any breach by any party of its obligations or any default under the Development AgreementAgreement (Expansion Property), the Head Lease Leases or the ConsentConsents; and (B) any material breach by any party of its obligations or any default under the Commercial Documents; (iii) take all reasonable steps to enforce (except to the extent permitted by paragraph (b) below): (A) any claim or right it has under or in connection with the Development AgreementAgreement (Expansion Property), the Head Lease Leases or the ConsentConsents; and (B) any material claim or right it has under or in connection with any other Commercial Document; (iv) notify the Agent promptly of any material claim made under a Commercial Document; and (v) provide the Agent with reasonable details of any claim under sub-paragraph (iv) above and its progress and notify the Agent as soon as practicable upon that claim being resolved. (b) The Borrower shall not amend, terminate, give any waiver or consent under, or agree or decide not to enforce, in whole or in part, any term or condition of: (i) the Development AgreementAgreement (Expansion Property), the Head Lease Leases or the ConsentConsents, save for amendments, waivers, consents or non-enforcements which: (A) are not materially adverse to the interests of the Lenders; (B) are minor or technical; or (C) have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (which approval shall not be unreasonably withheld)); or (ii) any other Commercial Document, save for non-material amendments, waivers, consents or non-enforcements or amendments, waivers, consents or non-enforcements which are not materially adverse to the interests of the Lenders, are minor or technical or have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (such consent not to be unreasonably withheld)).

Commercial Documents. (a) The Borrower shall: (i) perform and comply with: (A) its obligations under or in connection with the Development Agreement and the Head Lease, other than obligations of a minor or technical nature, the non-fulfilment of which would not be materially adverse to the interests of the Lenders; (B) the Consent; and (C) in all material respects with its material obligations under or in connection with the other Commercial Documents; (ii) notify the Agent (promptly upon becoming aware of the same) of: (A) any breach by any party of its obligations or any default under the Development Agreement, the Head Lease or the Consent; and (B) any material breach by any party of its obligations or any default under the Commercial Documents; (iii) take all reasonable steps to enforce (except to the extent permitted by paragraph (b) below): (A) any claim or right it has under or in connection with the Development Agreement, the Head Lease or the Consent; and (B) any material claim or right it has under or in connection with any other Commercial Document; (iv) notify the Agent promptly of any material claim made under a Commercial Document; and (v) provide the Agent with reasonable details of any claim under sub-paragraph (iv) above and its progress and notify the Agent as soon as practicable upon that claim being resolved. (b) The Borrower shall not amend, terminate, give any waiver or consent under, or agree or decide not to enforce, in whole or in part, any term or condition of: (i) the Development Agreement, the Head Lease or the Consent, save for amendments, waivers, consents or non-enforcements which: (A) are not materially adverse to the interests of the Lenders; (B) are minor or technical; or (C) have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (which approval shall not be unreasonably withheld)); or (ii) any other Commercial Document, save for non-material amendments, waivers, consents or non-enforcements or amendments, waivers, consents or non-enforcements which are not materially adverse to the interests of the Lenders, are minor or technical or have been approved in writing by the Agent (acting on the instructions of the Majority Lenders (such consent not to be unreasonably withheld)).